Lead Fund Controller, Private Funds
About The Position
Wellington Management is seeking an experienced fund controller to join their private investment focused Fund Control & Operations team. This role will support the launch and ongoing operations of the Private Investment platform’s semi-liquid private investment strategy, Venture Growth Evergreen. The Lead Fund Controller will play a key role in a new and growing segment of the Private Investment and Fund Services platforms, overseeing end-to-end fund operations for assigned semi-liquid vehicles. This includes managing day-to-day activities related to accounting, reporting, and fund operations of an open-ended private investment fund, partnering with third-party fund administrators and internal teams to strike monthly Net Asset Values (NAVs). The role involves validating NAV-impacting activities such as investments, subscriptions, redemptions, fees, and expenses, as well as assisting with the review of financial statements and regulatory filings. The Lead Fund Controller will also support various internal teams by providing information for queries and conducting ad hoc analyses. This position serves as a control point and subject matter expert for semi-liquid fund operations, contributing to the design and scaling of operational infrastructure for Wellington’s growing evergreen platform.
Requirements
- BS (or above) in Accounting or Finance is required.
- 7+ years of relevant experience in private funds, including fund administrator, public accounting, or asset manager.
- Strong experience with investment company accounting, ideally with proficient understanding of accounting for both public and private investments.
- Strong experience with open-ended fund structures, including multi-share class funds.
- Proficient knowledge of US GAAP and general understanding of other accounting frameworks (e.g., Lux GAAP, IFRS).
- Experience overseeing third-party administrators.
- Advanced Excel skills; familiarity with data/reporting tools is a plus.
Nice To Haves
- CPA license is preferred but not required.
Responsibilities
- Oversee monthly NAV process, including review of administrator outputs and validation of complex private portfolio company and/or private credit transactions as well as public investment transactions.
- Validate portfolio valuation inputs and fair value adjustments.
- Validate management fee and performance fee calculations (including high-water mark / incentive fee structures).
- Validate income allocations and expense accruals.
- Ensure accuracy of investor records, flows, and capital balances within operational systems.
- Oversee related third-party service providers.
- Ensure compliance with prescribed accounting framework and governing documents.
- Support preparation and review of financial statements and regulatory reporting.
- Partner with Investor Relations and Transfer Agent on dealing date workflows, investor communications, and reporting.
- Partner with Treasury, Product, and Governance, and Investment teams on liquidity forecasting and cash management.
- Partner with Capital Formation, Legal, Tax, and other teams on fund structuring considerations for evergreen vehicles and related operational readiness.
- Drive design and improvement of operating models, workflows, and controls for semi-liquid funds.
- Develop and enhance accounting policies, procedures, and operational controls.
Benefits
- retirement plan
- health and wellbeing
- dental
- vision
- pharmacy coverage
- health savings account
- flexible spending accounts
- commuter program
- employee assistance program
- life and disability insurance
- adoption assistance
- back-up childcare
- tuition/CFA reimbursement
- paid time off (leave of absence, paid holidays, volunteer, sick and vacation time)
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What This Job Offers
Job Type
Full-time
Career Level
Senior
